Al-Mazaya Holding Co. KSCC (MAZAYA KK): The Kuwait-based
property developer plans to issue 149.8 million shares, it said
in a statement to the Kuwaiti bourse. The company seeks to raise
capital to 64.9 million dinars ($223 million) from 50 million
dinars. The shares fell 7.6 percent to 98 fils.

First Gulf Bank PJSC (FGB UH): The Abu Dhabi-based lender
was raised to “equal weight” from “overweight” at Morgan
Stanley.

Kuwait Finance and Investment Co. (KFIC KK): The Kuwait-based investment banking and asset management firm reported a
first-quarter profit of 1.1 million dinars ($3.8 million) after
a loss of 6.1 million dinars a year earlier, according to a
statement to the local bourse. The shares were unchanged at 100
fils.

Saudi British Bank (SABB AB): The lender that’s 40 percent-owned by HSBC Holdings Plc said it appointed Zarir J. Cama as a
new board member, according to a statement to the Saudi market.
The shares lost 4.7 percent to 41 riyals.

Union National Bank PJSC (UNB UH): The bank in which the
governments of Abu Dhabi and Dubai own stakes was cut to “equal
weight” from “overweight” at Morgan Stanley. The shares
dropped 5.6 percent to 3.04 dirhams.